Summary by Futu AI
Vertex Pharmaceuticals Incorporated, known as Vertex, has completed its acquisition of Alpine Immune Sciences, Inc., for approximately $5.0 billion in cash, as previously disclosed on May 20, 2024. The acquisition, referred to as the Alpine Acquisition, is expected to be accounted for as an asset acquisition by Vertex. As a result, Vertex anticipates recording a one-time, non-deductible Acquired In-Process Research & Development (AIPR&D) expense of about $4.4 billion during the second quarter of 2024. This expense will affect both GAAP and non-GAAP operating expenses and net income for the second quarter and the full year of 2024, as well as the financial guidance for the full year. Additionally, Vertex is expected to incur around $200 million in transaction-related compensation expenses due to...Show More